Great Eastern MaidGR8: Why It is Great for the Employer
Great Eastern MaidGR8: Why It is Great for the Employer
- Plans B and C have high liability coverage
- Plan B is one of the highest value mid-tier plans on the market
- Plans B and C can be expensive
- Plan A doesn't offer a MOM bond guarantee benefit
While Great Eastern's MaidGR8's basic plan lacks the extra protection that its peers offer, you can find a great value maid insurance plan with one of Great Eastern's higher tiered options. Thanks to their strong liability coverage, its two higher tiered domestic insurance policies that could be a match for maid employers looking to protect themselves. However, with steep price increases with each plan upgrade, Great Eastern's more comprehensive maid insurance plans may come at a cost not everyone can afford.
|Summary of Great Eastern MaidGR8|
|Plan A only has minimum coverage|
|Plan B is one of the better mid-tier value plans|
|Plan C is great for employers looking to protect themselves|
|Plan B & Plan C offer both third-party liability and employer's liability coverage but cost above average|
Table of Contents
- Great Eastern MaidGR8 Insurance: What You Need to Know
- Claims & Contact Information
- Great Eastern MaidGR8 Features & Coverage
Great Eastern MaidGR8 Maid Insurance: What You Need to Know
For those who have a flexible budget and are looking for a substantial mid or top-tier maid insurance plan, Great Eastern's top tiered plans may do a decent job of providing ample protection for the employer. However, Great Eastern's basic maid insurance plan is one of the simplest plans, providing you with only the bare minimum without a particular price advantage. The MaidGR8 policies come in three options: Plan A, Plan B, and Plan C, both available for 26 or 14-month durations. Two additional plans, Plan E and Plan F, allow you to purchase the S$2,000 or S$7,000 Philippines Bond coverage separately as an add-on to your chosen plan.
The disparity between Great Eastern's maid insurance Plans A and Plan B/C is great, with Plan A offering almost none of the coverage that the other two plans provide. In particular, Plan B and Plan C stand out with their liability and theft protection, offering coverage for fidelity (theft committed by your maid), third-party liability (third-party lawsuit protection) and employer's liability (covering your legal liability if your maid gets sick or injured). When analysing the scope of the policies, it seems like Great Eastern is primarily focusing on the safety and protection of the employer. This means that coverage for your maid, medical or otherwise, will be limited. If your goal with a maid insurance policy is to protect yourself, Great Eastern's MaidGR8 may deliver decent value with its Plan B and C options.
Great Eastern MaidGR8 Maid Insurance Plan A
As one of the most basic plans on the market, Great Eastern MaidGR8's Plan A costs around 10% below the basic-tier average. There is a notable coverage amount of S$2,000 for personal accident expenses, higher than its peer average. However, with no MOM insurance guarantee (you will be required to deposit the full S$5,000 bond to MOM) or waiver of counter indemnity option, and providing only the minimum required medical and accident coverage, this plan is definitely for the ascetic consumer. For those looking for a good value or comprehensive basic plan, there are better options like FWD or Etiqa who offer a wider scope of coverage for less cost.
Great Eastern MaidGR8 Maid Insurance Plan B and Plan C
Great Eastern's Plan B is one of the top value mid-tier plans with a price around the mid-tier market average. This is due to its above average coverage for third-party liability, wage reimbursement, and fidelity. Compared to other mid-tier plans, Plan B offers 103% more liability coverage with S$50,000 of third-party liability coverage, S$50,000 employer liability coverage, and S$5,000 fidelity coverage. This plan also offers coverage for your maid's hospital recuperation, wage reimbursement, termination/rehiring expenses, and special grants (a lump sum paid upon death of your maid). However, the medical coverage is around 10% less than the market mid-tier average, making it less than ideal for the medically-focused consumer.
Great Eastern's MaidGR8 Plan C costs 13% greater than the top-tier market average for 26-month plans. However, it has a good ratio of coverage offered per dollar of premium due to its above average coverage for personal accident, third-party liability, maid recuperation, maid replacement, fidelity, wage reimbursement and special grant coverage. Out of all the options included, coverage for your maid's personal belongings is the only thing that is below the market average for top-tier plans. Its medical coverage exceeds the market average too, due to an annual S$30,000 hospitalization coverage.
If you are worried about lawsuits, MaidGR8 Plans B and C can be good options as they are unique in offering both employer's liability and third-party liability coverage. This is in addition to the S$5,000 fidelity coverage and S$300 maid belongings coverage, which provide you with protection against theft. Both of these plans focus on the employer, making them good options if your concern is protecting yourself, your family and your belongings. If you are concerned about protecting your maid or if you have one who needs specific medical protection, you may find a better fit with other plans on the market. Additionally, the high cost makes these plans not ideal for those on a budget. You can find cheaper mid and top-tier plans that provide similar coverage, such as FWD or Insured United's maid insurance.
Claims & Contact Information
To help submit a claim for Great Eastern's MaidGR8, you can call Great Eastern's hotline number (provided below) or contact your insurance advisor. Please make sure you submit your claims within 30 days of the event happening. Please make sure you have all the forms ready for submission, including any hospitalisation paperwork, police reports and any receipts.
|Claim Hotline||65 6248 2888|
|Mailing Address||1 Pickering Street, Great Eastern Centre, Singapore 048659|
|Filing a claim||Claim Procedure|
Great Eastern MaidGR8 Maid Insurance Features & Coverage
Maid insurance policies can vary greatly, so how do you know if you're getting the best deal for your money? Below, we've compiled a chart that compares Great Eastern MaidGR8 maid insurance to some of its competitors. If you want to learn more about Great Eastern's MaidGR8 or compare it to other policies, we have prepared a guide to some of the best maid insurance policies in Singapore.
|Benefits & Features||Plan A||Basic Tier Avg||Plan B||Mid-tier Avg||Plan C||Top-Tier Avg|
|26-month Premium (w/ waiver of counter indemnity)||N/A||S$318||S$331.70||S$338||S$406.60||S$389|
|14-month Premium (w/ waiver of counter indemnity)||N/A||S$216||S$331.70||S$255||S$406.60||S$304|
|3rd Party Liability||N/A||S$8,643||S$50,000||S$14,231||S$50,000||S$20,889|